Almasane Alkobra Mining Company (AMAK) announces the issuance of 4 exploration licenses for Copper and Gold from the Ministry of Industry and Mineral Resources
|Announcement Detail||Almasane Alkobra Mining Company (AMAK) announces the issuance of 4 exploration licenses for Copper and Gold from the Ministry of Industry and Mineral Resources. |
Licenses location:Riyadh Province - Al-Dawadmi.
Licenses Issuance date:2-2-1444 AH Corresponding to 29-08-2022 G.
Licenses Expiry date:2-2-1449 AH Corresponding to 06-07-2027 G.
Total Area: 396.1 km2.
This licenses was issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140 dated 10/19/1441 AH and its executive regulations.
The company will carry out the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials.
The financial impact value and timing of these licenses will become clear after the completion of exploration work and studies, and the company will announce any major developments regarding these licenses.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.